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Shenwan Hongyuan Group (000166) Fair Value & Analysis

Financial Services · CN · Market cap 116B CNY

SH Shenwan Hongyuan Group 000166 · SHE
Price¥4.54
Fair Value¥6.93
Upside+52.6%
Quality54/100
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Weak Growth
Highly profitable · 37.6% net margin
Moderate debt · generates free cash flow
2.37% dividend yield
Ranks above peers (9/14)
Wide moat 65/100
Evidence: Medium Range ¥5.20 – ¥8.67 Share as image

Fair value as of: Jul 17, 2026

From 26 valuation models · updated 21 days ago

Share price −0.2% over the past month.

A solid business, screening 53% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (¥5.20). The market is more pessimistic than our downside scenario.
  • Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

¥6.18 ¥3.68 Fair Value ¥6.93 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range ¥3.68 – ¥6.18 · fair‑value band ¥5.20 – ¥8.67 · the ¥4.54 price screens below the ¥6.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Shenwan Hongyuan Group (000166) currently trades at ¥4.54, while our model-based Fair Value estimate is ¥6.93, implying the stock looks roughly 52.6% undervalued today. We read business quality at 54/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Shenwan Hongyuan Group generated revenue of 26.3B CNY at a net margin of 37.6%. Revenue grew 11.9% year over year. It earns a return on equity of 7.8%. Net debt stands at 336B CNY. Fundamentals as of Jul 17, 2026

Our scenario range runs from ¥5.20 (bear case) to ¥8.67 (bull case); at ¥4.54, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 21% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 11% fair-value upside, at 53%, 000166 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ¥0.7600 ¥2.87 80
Residual Income ¥4.18 ¥4.52 ¥5.78 76
Rev-Margin DCF ¥1.04 ¥3.84 ¥7.93 74
All 26 models by family
DCF Models
FCF DCF ¥0.5300 ¥2.89 38
Owner Earnings ¥5.25 ¥13.23 ¥29.43 31
5Y Revenue Exit ¥1.04 ¥3.81 ¥8.53 39
5Y EBITDA Exit ¥4.98 ¥12.54 ¥24.55 41
5Y P/E Exit ¥3.19 ¥9.01 ¥16.45 38
10Y Revenue Exit ¥0.5000 ¥3.29 ¥7.49 36
10Y EBITDA Exit ¥3.36 ¥10.43 ¥23.52 37
10Y P/E Exit ¥2.12 ¥7.19 ¥15.92 35
Earnings-Based
Graham-Dodd ¥2.87 ¥18.77 ¥26.27 54
Lynch FV ¥5.46 ¥7.80 ¥10.15 50
PEG = 1.0 ¥5.46 ¥7.80 ¥10.15 46
EPV ¥5.75 ¥6.96 ¥8.02 59
Dividend Discount
Gordon GGM ¥0.8300 ¥1.72 ¥2.73 70
DDM Multi-Stage ¥0.8300 ¥1.45 ¥1.80 61
Multiples
P/E Multiple ¥6.33 ¥8.44 ¥10.55 63
P/S Multiple ¥3.21 ¥4.28 ¥5.35 58
P/B Multiple ¥5.38 ¥7.17 ¥8.96 55
EV/EBIT ¥10.28 ¥14.20 ¥18.13 53
EV/EBITDA ¥7.42 ¥10.40 ¥13.37 54
EV/Revenue ¥1.49 ¥2.78 ¥4.06 43
Asset-Based
NCAV (Graham) ¥2.48 ¥3.32 ¥4.95 50
Growth DCF
Growth DCF ¥0.7600 ¥2.87 80
Rev-Margin DCF ¥1.04 ¥3.84 ¥7.93 74
Economic Profit
Residual Income ¥4.18 ¥4.52 ¥5.78 76
ROIC Compounder ¥6.42 ¥9.93 ¥12.94 72
Growth Earnings
Growth-Adj P/E ¥7.50 ¥10.71 ¥13.92 68

Widest divergence: Growth Earnings (¥10.71) versus Growth DCF (¥0.7600). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 26.3B CNY
Revenue growth (YoY) +11.9%
Net margin 37.6%
Return on equity 7.8%
Free cash flow 1.7B CNY FY2025
P/E ratio 11.1
More key figures
Operating margin 55.3%
EPS (TTM) ¥0.3900
Dividend yield 2.6%
EPS growth (YoY) +12.5%
Net debt 336B CNY FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 54/100

Of which business quality 48 · Market factors (momentum, volatility) 46

Profitability 35
Margins and returns on capital today
Quality Growth 76
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 17
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 93
Calm price path (market factor)
Momentum 29
Price trend over the last 3–12 months (market factor)
52W Momentum 20
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Shenwan Hongyuan Group Co., Ltd. provides various financial products and services to corporate, professional institutional, individuals, and non-professional institutional customers. It operates through four segments: Enterprise Finance, Personal Finance, Institutional Services and Trading, and Investment Management.

Full company description

Shenwan Hongyuan Group Co., Ltd. provides various financial products and services to corporate, professional institutional, individuals, and non-professional institutional customers. It operates through four segments: Enterprise Finance, Personal Finance, Institutional Services and Trading, and Investment Management. The Enterprise Finance segment offers equity underwriting and sponsorship, debt underwriting and financial advisory, and debt and other investment services. The Personal Finance segment provides securities and futures brokerage, margin financing and securities lending, stock-backed lending, agreed repurchase securities trading, and investment advisory services, as well as sells financial products. The Institutional Services and Trading segment offers prime brokerage, proprietary trading, and research and consultation services; and engages in trading of fixed income, currencies, commodities, equity, and equity-linked securities, as well as trading, hedging, sale, and OTC derivatives services to institutional clients. The Investment Management segment provides asset management, mutual fund management, and private equity fund management services. The company also involved in securities underwriting and sponsoring, wealth management, risk management, venture capital, investment research, and corporate financing services. The company was formerly known as Shenyin Wanguo Securities Co., Ltd and changed its name to Shenwan Hongyuan Group Co., Ltd. in January 2015. Shenwan Hongyuan Group Co., Ltd. was founded in 2015 and is based in Urumqi, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shenwan Hongyuan Group reported revenue of ¥38.6B in FY2025 versus ¥43.7B in FY2021, a compound −3.1%/yr. Reported net income was ¥9.5B in FY2025, compounding +0.3%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
38.6B CNY
Latest YoY
+17.3%
Avg. growth/yr (3Y)
+9.2%
Avg. growth/yr (5Y)
+0.6%
Avg. growth/yr (21Y)
+31.9%
Revenue −3.1%/yr
FY21 ¥43.7B
FY22 ¥29.6B
FY23 ¥30.6B
FY24 ¥32.9B
FY25 ¥38.6B
Net income +0.3%/yr
FY21 ¥9.4B
FY22 ¥2.8B
FY23 ¥4.6B
FY24 ¥5.2B
FY25 ¥9.5B

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Cite: Fair Value Calculator (2026). "Shenwan Hongyuan Group Fair Value". https://www.fairvalue-calculator.com/stock/000166

Peer Group

Capital Markets · 424 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 54 · Above median
Fair Value upside +53% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 2% · Below median
Net margin (TTM) 38% · Top 25%
Operating margin (TTM) 55% · Top 25%
Revenue growth 12% · Below median
Dividend yield (TTM) 2.4% · Above median
Debt / equity 0.64× · Higher than 75% of peers

Valuation Multiples vs Capital Markets median · lower = cheaper

P/E (TTM) 11.9× · Cheaper than median
P/B 1.04× · Cheaper than median
P/S (TTM) 4.42× · Pricier than median
P/FCF 10.0× · Pricier than 75% of peers
EV/EBITDA 7.0× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 11
FUTURE 60 · sector 91
PAST 31 · sector 31
HEALTH 68 · sector 93
DIVIDEND 47 · sector 37

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Huatai Securities Co HTSC $0.2700 $0.0400 -85%
Mirae Asset Securities Co 006800 38,750 KRW 31,645 KRW -18%
Meritz Financial Group 138040 117,000 KRW 87,706 KRW -25%
Korea Investment Holdings 071050 239,000 KRW 318,825 KRW +33%
NH Investment & Securities Co 005940 31,000 KRW 37,133 KRW +20%
Samsung Securities Co 016360 107,700 KRW 126,487 KRW +17%
Motilal Oswal Financial Services Limited MOTILALOFS ₹967.00 ₹299.65 -69%
Kiwoom Securities Co 039490 322,000 KRW 358,091 KRW +11%
SSI Securities Corporation SSI 24,250 VND 28,021 VND +16%
Bolsas y Mercados Argentinos S.A BYMA 313.75 ARS 120.22 ARS -62%

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Frequently asked questions

Is Shenwan Hongyuan Group (000166) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of ¥6.93 versus a price of ¥4.54, about +53% (undervalued).
What is the fair value of 000166?
Our model-based fair value for Shenwan Hongyuan Group is ¥6.93 (as of Jul 17, 2026), built from audited fundamentals. The current price is ¥4.54.
What is the quality score of 000166?
Shenwan Hongyuan Group has a Quality Score of 54/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Shenwan Hongyuan Group (000166)?
Shenwan Hongyuan Group reported trailing-twelve-month revenue of about 26.3B CNY (latest available figure, as of Jul 17, 2026).
What is the net profit margin of 000166?
The net profit margin of Shenwan Hongyuan Group is about 37.6%, meaning it keeps roughly 37.6% of revenue as net income. Based on the latest reported figures.
Does Shenwan Hongyuan Group pay a dividend?
Shenwan Hongyuan Group currently shows a dividend yield of about 2.55% relative to its recent price (as of Jul 17, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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